China suggests no significant NEV subsidy cut in 2020, but the industry must prepare regardless

Having slashed subsidies in July 2019, this week Miao Wei from China’s Ministry of Industry and Information Technology (MIIT) indicated that the ministry would not make a significant reduction in NEV subsidies during 2020. However, it is important to note that this does not represent official policy, which has yet to be confirmed.

NEV subsidies in China have been steadily reduced since 2016. The table below shows the reductions made from 2017 to 2019, when the latest subsidy cuts came into effect.

The July 2019 reduction had an immediate effect on electric vehicle sales in China, which saw falls . . .


Login to continue reading!

This article is restricted to Benchmark Membership subscribers.

Login

Not subscribed yet?

To subscribe or to find out more about Benchmark Membership click here or fill in the form below and a member of our team will be in touch with you as soon as possible.